PCEA REGULATED NON-WDT SACCO
Mobile Banking– Terms and Conditions
1. Introduction
These Terms and Conditions (“Terms”) govern the use of the M- Banking Services offered by the Society(the “App”). By downloading, installing, and using the App, you agree to comply with and be bound by these Terms. If you do not agree, please refrain from using the M- Banking Services.
These Terms work in conjunction with our Data Protection and Privacy Policy. which provide further information on how we manage and protect your personal data.
2. Definitions
- Member: A registered member of Concorde Sacco.
- FOSA: An account linked to the member’s account, acts as a wallet where one withdraws mobile loan funds to Mpesa
- M-Pesa: A mobile money service provided by Safaricom, through which members can deposit and withdraw funds.
- Mobile Loans: Loans applied for and disbursed through the App.
- App Registration, Features and Functions
To register for the M-Banking service you must have an active FOSA account by providing full names, ID number, Registered Safaricom Phone Number, Email address. The member will receive an SMS with the PIN informing them of their registration to Mobile Banking services.
To carry out an M-Banking transaction on the Service menu you must be a registered M-Pesa
The App provides the following features and services:
- Balance Inquiry: View balances in share capital, FOSA, deposits, and active loan accounts.
- Cash Withdrawal: Withdraw funds from your FOSA to your mobile phone or to non-members.
- Deposits: Deposit funds from M-Pesa accounts to the FOSA or transfer funds to various member accounts.
- Loan Repayment: Repay loans using your FOSA or M-Pesa account.
- Loan Calculator: Estimate mobile loan amounts and repayment schedules.
- Request for Loan: Request mobile loans through the App.
- Mini Statement Request: Request a mini statement of your account activities.
- Change PIN: Change your PIN for enhanced security.
4. Eligibility
The App is available only to registered members of PCEA Regulated Non-WDT Sacco who have successfully registered for the mobile banking service. Non-members or suspended members are not authorized to use the App.
M-Banking Service will only be available to the mobile phone number registered by you, Members can register or de-register for the M-Banking Service by contacting the SACCO Office.
5. Security and Privacy
5.1 PIN Confidentiality
Members are responsible for maintaining the confidentiality of their App PIN and other login credentials. PCEA Regulated Non-WDT Sacco will never request your PIN or password.
If you change your Mobile Phone number you must de-register from M-Banking and then re-register using your new mobile phone
5.2 Unauthorized Access
Members are responsible for all transactions carried out on their accounts through the App, including unauthorized ones. You must notify the Sacco immediately in the event of suspected unauthorized access.
If your mobile phone is lost or stolen, you should de-register from the M-Banking The SACCO shall not be responsible for any losses suffered by you, should you fail to de-register from the M-Banking service if your phone is lost or stolen
5.3 Data Privacy
PCEA Regulated Non-WDT Sacco will handle your personal information according to applicable data protection laws and our Data Protection and Privacy Policy. We will not share your personal information with third parties without your consent, except as required by law.
6. Transactions and Fees
6.1 Transaction Limits
The App imposes limits on certain types of transactions (e.g., loan amounts, withdrawals, deposits), which may be adjusted by PCEA Regulated Non-WDT Sacco at any time. Members will be informed of such changes by notice.
6.2 Transaction Fees
Certain transactions, such as withdrawals or loan requests, may incur service charges. These fees will be communicated through the App before the transaction is confirmed. By completing the transaction, you agree to the applicable fees.
7. Loan Requests and Repayment
7.1 Mobile Loans
All mobile loans applied for via the App are subject to approval by PCEA Regulated Non-WDT SACCO and will be governed by the Sacco’s Credit policy and Systems set Parameters.
7.2 Loan Repayment
Members must ensure that they repay loans on time as per the terms provided during the loan application. Non-repayment or late repayment may affect a member’s creditworthiness and eligibility for future loans since the arrears for mobile loans affect all other loan products .
8. Liability
8.1 No Warranty
Neither party shall be liable for failure or delay in the performance of its obligations under this agreement to the extent that such failure or delay is caused by matters beyond that party’s reasonable control including but not limited to network delays destructions arising out of war, rebellion, civilian commotion, strikes, lockouts, and or other acts or orders of any government department, council or other constituted Notice of these circumstances shall be given to the other party as soon as possible.
8.2 Limitation of Liability
PCEA Regulated Non-WDT Sacco will not be liable for any loss or damage, whether direct or indirect, arising from the use of or inability to use the App. This includes, but is not limited to, errors, delays, transaction failures, or loss of data.
8.3 Third-Party Services
PCEA Regulated Non-WDT Sacco is not responsible for the performance of third-party services integrated with the App (e.g., M-Pesa).
9. Suspension and Termination
9.1 Account Suspension
PCEA Regulated Non-WDT Sacco reserves the right to suspend or terminate access to the App at any time without prior notice in cases of suspected fraudulent activities, misuse, or breach of these Terms.
9.2 Termination by Member
Members may choose to terminate their use of the App by contacting PCEA Regulated Non-WDT Sacco. Upon termination, access to the App will be revoked, but all outstanding obligations (e.g., loan repayment) remain.
10. Amendments
PCEA Regulated Non-WDT Sacco reserves the right to amend these Terms at any time. Any amendments will be communicated via the App or other official channels. Continued use of the App after the amendment constitutes acceptance of the revised Terms.
11. Governing Law
These Terms shall be governed by and construed in accordance with the laws of Kenya. Any disputes arising from or related to the use of the App shall be subject to the exclusive jurisdiction of Kenyan courts.
12. Contact Information
For any inquiries or assistance regarding the App, please contact:
- Email:
This email address is being protected from spambots. You need JavaScript enabled to view it. orThis email address is being protected from spambots. You need JavaScript enabled to view it. - Phone: +254 720403460 / +254 792633308
- Website:
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13. References to Data Policies.
By using the PCEA Regulated Non-WDT Sacco Mobile App, you agree to the terms of our Data Protection and Privacy Policy, which outline our responsibilities and your rights regarding the use and protection of your personal information.
Conclusion
By using the PCEA Regulated Non-WDT Sacco Mobile App, you acknowledge that you have read, understood, and agreed to these Terms and Conditions, along with our Data Protection and Privacy Policy.
Other Important Consideration to make the App and other M-Banking service reliable and effective:
CLOUD SERVER HOSTING
There is need to consider Cloud Server hosting to:
- Safeguard our Data- When server is hosted in the office(Resident) exposure to risk is high can get spoilt due to other factors e.g water, electricity failures if the UPS is not strong and other factors. All data is in the server in in M-Banking the Server need to be up 24/7 for connectability and communication with all users(Our clients)
- System downtown failures brought down by internet fluctuations- We currently use Basic user internet(Local home Fibre) being used by others in the locality. There is always constant fluctuations that make it unstable and interrupt Server services this mostly affect mobile banking when server data is unaccessible. This includes the USSD services causes members uproar when internet is down.
- In view of the above (Point no. 2) and with introduction of the Mobile App we will require reliable, 24/7 server accessibility. This would work well if we move out our Server from residence and contract a reliable Data preservation company for clouding. This is what happens in case of banks and other big institutions like Universities. The Data hosting company are able to duplicate(Mirror) the Server to cushion against unavoidable network failures since the Company is totally responsible for the data protection so our systems and mobile banking will be available without interruptions except in several cases of planned system maintenance.